New South Wales is the largest state in Australia in terms of gross state product. In 2005-06 it represented around one third of Australian Gross Domestic Product (GDP) in level terms.

Gross state product, New South Wales - Chain volume measures(a)

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

Values ($m)

GSP(A)

280 684

286 897

294 645

301 782

306 203

310 771

GSP(P)

275 015

282 117

290 411

300 071

306 547

311 450

GSP(I/E)

286 354

291 678

298 879

303 493

305 859

310 091

GDP

784 017

813 542

839 187

873 197

896 568

921 747

Percentage changes from previous year (%)

GSP(A)

2.3

2.2

2.7

2.4

1.5

1.5

GSP(P)

1.6

2.6

2.9

3.3

2.2

1.6

GSP(I/E)

3.0

1.9

2.5

1.5

0.8

1.4

(a) Reference year for chain volume measures is 2004-05.

New South Wales GSP(P) growth was positive throughout the time series with the exception of 1990-91 and 1991-92. Growth rates were quite high between 1992-93 and 1999-2000, with a peak in 1998-99. From 2000-01 the growth rates have moderated growing at an average of around 2%. In general GSP(P) and GSP(I/E) displayed similar growth throughout the time series, however there were some divergences between the two measures in 2000-01, 2003-04, and 2004-05.

Gross State Product, New South Wales - Chain volume measures(a): Percentage changes from previous year

The difference between the GSP(A) and GSP(I/E) growth has been less than 1.0 percentage point throughout the whole time series and was zero in 2005-06.

In 2005-06 the main industries that contributed to New South Wales GSP growth were Finance and insurance (0.5 percentage points) and Construction and Ownership of dwellings (each 0.3 percentage points). The main negative contributing industry was Property and business services (-0.2 percentage points).

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.